facts. Mineral trade includes ores, concentrates, and semi- and final-fabricated mineral products. Global production of iron ore is estimated to have been 2.4 billion tonnes in 2020, only slightly lower than the 2.5 million tonnes produced in 2019. Currently, you are using a shared account. Concentrates accounted for the remaining 71% of the volume and 23% of the value. In 2020, Canada was a net exporter of semi-finished steel products, with imports of 6.8 million tonnes and exports of 6.9 million tonnes. Prices increased to a high of US$187.18 in 2011. The monthly average price for February 2017 was US$89 a tonne. Yet while the depletion of China's own iron ore reserves is prompting it to look for new sources, including Simandou, such efforts are not expected to produce any substantial production out to 2026, Australia's government said. This bar graph shows Canada's annual mine production of iron ore from 2011 to 2020. The Asian country produced 340 million tonnes of iron ore in 2020, which accounted for 14.2% of the total world production. With electric arc furnaces, steel can be made from 100% scrap metal feedstock. - Port infrastructure is poor and vessels can wait up to seven days to load cargo. Gina Rinehart's Hancock Prospecting Pty Ltd. took over in 2018, confirmed during a March 25 West Australian Mining Club function in Perth that his company had received some expressions of interest from Indian steelmakers. Compiled by Manolo Serapio Jr.; Editing by Sugita Katyal. To use individual functions (e.g., mark statistics as favourites, set There are an estimated 20 billion tonnes of crude iron ore reserves in China, with Liaoning, Sichuan, Hebei, Inner Mongolia and Shanxi among the most resource-rich regions of the country. These are held by about 80 companies. Recycling produces significant savings in energy and raw materials. All quotes delayed a minimum of 15 minutes. China is also the worlds biggest consumer of the commodity, and combines domestic production with additional foreign imports to feed its huge steelmaking industry, which currently accounts for more than half of the worlds steel output. "Distribution of Global Iron Ore Exports in 2021, by Major Country. Rio Tinto's review into the required cost and feasibility of investments, including port connections and more than 600 kilometers of rail, should conclude by the end of fiscal 2021. Australia also has nearly 48 billion tons of crude iron ore reserves, the largest globally. Profit from the additional features of your individual account. Meanwhile, some of the leading iron ore suppliers in Australia include Rio Tinto, BHP Billiton and Fortescue Metals Group etc. Despite being a major importer of iron ore, China is also a top iron ore producer. Total worldwide production in 2020 stood at around 2.4 billion tonnes, according to data from the US Geological Survey, a small decrease compared to the previous year. Privacy & Cookie Notice. Australia ranks first among the worlds largest iron ore producing countries, with output totalling 900 million tonnes in 2020 around 37.5% of total world production. Whether youre conducting competitive research or looking for new and reliable suppliers, quality manufacturers or top wholesalers, BizVibe makes it easy to grow your business. Australia tops the list of iron ore production by country 2022. This pie chart shows the major global uses of iron ore. Steel represents 98%, while other mixed uses (i.e. According to the recent report from Report Buyer , Australia has also the largest iron ore reserves in the world, with 52 billion tonnes of iron ore reserve as of January 2017, accounting for 30.1% of the worlds total. In 2020, the Canadian steel industry exported 6.9 million tonnes of semi-finished steel products. Canadas iron ore is mined in Quebec, Newfoundland and Labrador, and Nunavut. Today, Australia is still the largest iron ore producer and exporter in the world, accounting for 37% of global production and 52% of global iron ore exports. While COVID-19 has delayed the progress of the implementation of India's 2017 National Steel Policy, which envisages 300 Mt of production capacity by fiscal 2031, the Australian government's quarterly said India's steel production is still expected to grow by over 40% over five years from a low point in 2020. Learn more about how Statista can support your business. Exports have always been high due to the countrys ample iron ore reserves, and advanced iron ore mining industry, facilitated by the growing consumption of iron ore in the production of steel across developing countries. The Resources and Energy Quarterly cited Rio Tinto Group's full-year 2020 results, which revealed site roadworks are underway at Simandou Blocks 3 & 4 in Guinea. Based on China's import of iron ore fines of 62% iron content (average spot price in US dollars per metric tonne in a given year of unloading port / freight on board at the Tianjin port), the average price was US$167.79 in 2011. A substantial amount is also produced in Nunavut. Prices subsided and hovered around US$90.00 until May 2020. - Miners in Goa have lower costs as mines are located near the port, and so avoid road and rail charges. In 2020, Canada ranked as the eighth-leading producer of iron ore and sixth for reserves, accounting for 2% of global production and 3% of reserves. Register in seconds and access exclusive features. In, WTEx. Production subsequently declined in 2020 to 52.4 million tonnes. Brazil holds around 34 billion tonnes of crude iron ore reserves, second only to Australia. According to the latest trading data from International Trade Centre (ITC), in 2016, Australia exported about $39.7 billion worth or equivalent of 853.4 million tons of iron ore to the global market, representing over half of the worlds total iron ore exports in that year, making Australia again the worlds largest iron ore exporter. The quarterly said the steel production of another key Australian trade partner, South Korea, has recovered to be near pre-COVID levels, with new facilities and upgrades to modest growth out to 2026. Get Started>>, Top 10 Largest Steel Producing Countries in the World, The Cement Industry in China: Forecasts and Trends 2018, Mexican Silver Industry Continues to Shine in the Global Market, Specialty Chemicals in the Global Market: BizVibes Top 5. (billed annually). Production subsequently dipped in 2015 to 2,117 million tonnes, but recovered and increased gradually to 2,542 million tonnes in 2019. Australia, the world's biggest iron ore exporter, has confirmed India as the world's fastest-growing steelmaker and iron ore importer out to 2026, providing an enticing longer-term option for a government that expects A$100 billion per year in iron ore export earnings during that period. Distribution of global iron ore exports in 2021, by major country [Graph]. /marketintelligence/en/news-insights/latest-news-headlines/australia-on-track-for-record-fy-21-iron-ore-exports-sets-sights-on-india-63388371 WTEx. The prominence of the Australian iron ore market has attracted a significant number of buyers and traders from all over the world. Differentiated Data to Make Informed Decisions, New Corporate Realities: Blending Geopolitics, Data, and Digital Transformation, ARIA Resort and Casino, Las Vegas, Nevada. In light of such diversification moves and diplomatic tensions, earlier this month a parliamentary committee called for stronger ties with India, Indonesia and Vietnam to mitigate Australia's heavy export dependence on China, which poses economic and security risks. Sanjiv Manchanda, who has been CEO of Atlas Iron Ltd. since billionaire Gina Rinehart's Hancock Prospecting Pty Ltd. took over in 2018, confirmed during a March 25 West Australian Mining Club function in Perth that his company had received some expressions of interest from Indian steelmakers. The quarterly said that "with a similar sized (but younger) population, India could eventually replicate China's extraordinary demand for resource and energy commodities." powdered iron, radioactive iron [iron 59], iron blue, and black iron oxide) represent the remaining 2%. Areas in China rich in iron ore include Hebei, Inner Mongolia, Liaoning, and Shanxi. In response to growth in Chinese steel production over the past decade, Australias leading iron ore producers have invested in the construction of new mines and associated infrastructure. Natural Resources Canada; IronMinerals Education Coalition, Canadian estimated crude steel production, Canadian mine production (shipments) of iron ore, 20112020(p), Natural Resources Canada; Statistics Canada, Canadian mine production (shipments) of iron ore, by province and territory, 2020(p), World mine production of iron ore, by country, 2020(p), Natural Resources Canada; U.S. Geological Survey; Statistic Canada. Many of the worlds largest iron ore mining companies have set up operations in the country, particularly in the Pilbara region of Western Australia where the majority of its reserves are located. Production in 2011 was 1,970 million tonnes, followed by an increase to 2,220 million tonnes in 2014. and over 1Mio. Iron ore exports are forecast to earn above A$100 billion annually for each of the next five years. Australia on track for record FY'21 iron ore exports, sets sights on India, Insight Weekly: US bank M&A; low refinancing eases rates impact; Texas crypto mining booms, Insight Weekly: US stocks hit grim milestone; top European banks tumble; TMT IPOs plunge, Gold and Copper Summit 2022: Overview of Global Gold Markets in 2022 and Beyond, Insight Weekly: US bank stress tests; cracks in housing market; summer energy supply risks. In 2020, the Latin American nation produced a staggering 400 million metric tons of iron ore. Brazil produces 16.7% of total world production. While Atlas still receives inquiries, "there is nothing sustainable yet. It was also when iron ore surpassed metallurgical coal and become Australias most valuable exported products. China supplements its domestic iron ore with imports from other countries to sustain its demand in the steel industry and other related fields. It is the leading producer of iron in Europe. For the first five months of 2020, iron ore prices hovered around US$90 per tonne, but subsequently rose to US$155 per tonne by December.
This production method greatly reduces the energy required to make steel, compared with primary steelmaking from ore. Thermal coal exports are set to drop from A$21 billion in fiscal 2020 to A$15 billion in fiscal 2021, then stabilize out to fiscal 2026. All dollars are Canadian unless otherwise indicated. - Other large producers and exporters are Essel Mining, Rungta Mines, V.M. With a production of about 90 million metric tons every year, Russia closes the list of iron ore production by country 2022. The increase in iron ore production in Western Australia displaced higher cost production in China and, combined with lower demand from Chinese steelmakers, led to the iron ore price falling by 42% in 2014-15 and a further 28% in 2015-16. Iron ore is the country's largest export, and its major markets are China, Japan, South Korea, Taiwan, and Vietnam. This line graph shows average monthly iron ore prices in US dollars per tonne from 2011 to 2020. - There are about 500 mines in the country, half of which are operational. The Site uses cookies to record users' preferences in relation to the functionality of accessibility. The imports of pellets came almost exclusively from the United States. In 2019, the price started at US$76.16 and then rose to US$120.24 by July. You only have access to basic statistics. In 2020, Canada was the eighth-largest producer of iron ore in the world. Iron ore pellets accounted for 29% of the volume, but 77% of the value. Production in 2011 was 36.5 million tonnes, the lowest in the 10-year period, followed a steady increase up to 54.2 million tonnes in 2019. Use Ask Statista Research Service. NEW DELHI (Reuters) - Indias iron ore exports, which fell for the first time in a decade last year, could halve over the next five years as the country feeds the expansion of its steel industry. An estimated 340 million tonnes of iron ore were produced in China in 2020, placing it third on the list of the largest iron ore producing countries. (June 3, 2022). Iron ore in Brazil is abundant in the state of Para, which produces nearly 190 tons every year, followed closely by the state of Minas Gerais. Vale, a Rio de Janeiro-based mining company, is the main iron miner in Brazil. The increasing shift toward using electric arc furnaces in the manufacture of steel will support the global market for steel scrap, which is projected to reach 755 million tonnes by 2024. See here for a complete list of exchanges and delays. Other biggest importers of Australian iron ore include Japan, South Korea, Indonesia, and Vietnam. This map shows Canadian production of iron ore by province and territory for 2020. India sells the bulk of its iron ore via the spot market. The latest Resources and Energy Quarterly of Australia's Office of the Chief Economist, released March 29, said iron ore earnings are on track for a record high of A$136 billion in fiscal 2021, after topping the A$100 billion mark for the first time in fiscal 2020. If you are an admin, please authenticate by logging in again. The price of iron ore moderately recovered in 2016 and 2017, reaching US$89.44 in February 2017 before falling to US$72.25 by the end of the year. Iron ore is a combination of minerals from which metallic iron can be extracted on an economic basis. Iron ore will contribute to a forecast overall resource and energy export earnings record of A$296 billion for the fiscal year. Iron ore prices have fluctuated significantly over the past decade, reaching a high of US$187 per tonne in February 2011 and a low of US$41 per tonne in December 2015. Please log in to access our additional functions, *Duration: 12 months, billed annually, single license, The ideal entry-level account for individual users. The combined revenue from the three commodities are set to exceed current thermal coal revenue in real terms by fiscal 2026. Log in, Australia: US$116.6 billion (53.6% of total iron ore exports), Australia: US$116.5 billion (net export surplus up 48.8% since 2020), China: -US$169.9 billion (net export deficit up 44.9% since 2020), Bahrain: -$1.8 billion (reversing a $22.5 million surplus). Get full access to all features within our Corporate Solutions. Quick Analysis with our professional Research Service: Toplists & Rankings: Best Employers Portal, Show sources information Due to this change if you are seeing this message for the first time please make sure you reset your password using the Forgot your password Link. The Pilbara region is the number one iron ore producing region in Australia, accounting for over 90% of Australias iron ore production annually. Low-grade ores with 50-60 percent iron are produced in the west and south. Most of that should be met by local iron ore output, but Wood Mackenzie's senior iron ore analyst Kim Christie said in an interview that India's iron ore is higher cost, and mostly of a lower quality, than Australia's. However, there is some very strong anticipation that it could change over the next five years.". If you continue using our website, we'll assume that you are happy to receive all cookies on this website. Exports of minerals critical to new and low emission technologies are also set to surge over the next five years, with lithium exports to rise more than five-fold in real terms from an estimated A$1 billion in fiscal 2021, nickel exports to almost double, and copper exports to rise by a third. India's domestic steel sector is consolidating amid efforts to leverage relatively low labor costs and what it calls "significant" untapped iron ore reserves. Steel is 100% recyclable, which means it can be reprocessed into material of the same quality again and again. Totals may be different because of rounding. Our Standards: The Thomson Reuters Trust Principles. Review our A combination of sustained demand and supply challenges caused by the COVID-19 pandemic contributed to the rise. Must Read:Top 10 Largest Steel Producing Countries in the World. Brazil produced an estimated 400 million tonnes of iron ore in 2020 slightly less than in 2019 but still roughly 17% of the global total. A$100 billion per year in iron ore export earnings during that period. - China is Indias biggest buyer, with its proximity helping it secure ores with low freight costs. Grow your business network in this industry and connect with the top iron ore suppliers in Australia. Most of Canada's iron ore comes from the Labrador Trough region bordering Quebec and Newfoundland and Labrador. Iron ore prices, monthly average, 20112020. The Carajs Mine in Brazils northern state of Par is one of the largest iron ore mines globally, and is operated by Rio de Janeiro-based company Vale. - India is the worlds third-largest exporter after Australia and Brazil. The country is also home to the worlds largest crude iron ore reserves, estimated by the US Geological Survey at around 50 billion tonnes. Chart. India is Asia's second-largest producer of iron ore and the fourth-largest producer worldwide. According to the latest report from Western Australias Department of State Development, Chinas increasing demand for iron ore resulted in the iron ore price rising from around US$30 a tonne in 2002-03 to around US$150 a tonne in 2011-12. - The worlds first iron ore futures debuted in India on Jan. 29, but volumes have been muted as participation of foreign players is not allowed. The iron ore price fell to as low as US$37 a tonne in December 2015 but increased during 2016. Each recycled tonne of scrap steel saves more than 1,400 kilograms of iron ore, 740 kilograms of coking coal and 120 kilograms of limestone. The nation is expected to increase its iron ore production given its extensive iron ore reserves, which hold an estimated 25 billion metric tons. The future of rock reinforcement: Locally anchored, self-drilling bolts, Rio Tinto, WCS, Guinea form JV to develop Simandou iron ore project, Historic 170 Carat Pink Diamond Recovered At Lulo, Monarch Produces First Gold Bar From Its Beaufor Mine, on the back of rising demand for raw materials, the worlds largest crude iron ore reserves, the worlds largest iron ore mining companies, Algeria, Nigeria, and Niger sign MoU for $13bn Trans Saharan gas pipeline, Enel to sell Chilean electricity transmission business to STM for $1.3bn, Ardian to buy majority stake in energy transition company GreenYellow, WHM declined mining permit for Walviskop operations in South Africa, INEOS and SINOPEC sign three petrochemical deals worth $7bn. The nation produces about 37.6% of total world production. You will not receive a reply. This bar graph displays the annual global mine production of iron ore from 2011 to 2020. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook The top three iron ore-producing countries accounted for 69% of global production. China is the largest importer of iron ore from Australia. The remaining 2% is used in applications such as: Other: powdered iron, iron 59, iron blue, black iron oxide. World iron ore reserves by top country 2021. State-backed National Mineral Development Corporation (NMDC) is Indias largest producer, with mining output totalling more than 31 million tonnes in the 2019-20 financial year. For enquiries,contact us. Sources: Federation of Indian Mineral Industries, industry members and Ministry of Mines. - Indian prices generally follow the global market, dominated by Australian and Brazilian miners, with China buying on a spot basis for its low-grade ore needs. He noted that India's government has been working on reforms related to mining and issuing licenses for operating mines. envisages 300 Mt of production capacity by fiscal 2031. Australia is the leading global producer of iron ore, accounting for 38% of the total production. statistic alerts) please log in with your personal account. The quarterly expects Australia's iron ore export volumes to grow from around 900 million tonnes in fiscal 2021 to 1.1 billion tonnes by fiscal 2026, as several mines open or expand in Western Australia.
- Shipments from Karnataka, source of a quarter of Indias annual exports, have been banned since July 2010 and exports have yet to resume despite a Supreme Court order allowing shipments from April 20. Resources are spread widely throughout the country, although the states of Odessa, Jharkhand, Karnataka and Chhattisgarh are notable for their productivity. "Distribution of global iron ore exports in 2021, by major country." - In its 2011/12 budget, the federal government hiked export duties on iron ore to 20 percent from 5 percent for fines and from 15 percent for lumps in a bid to cool domestic prices to help steel firms. Goa is Indias biggest exporter. Target the right companies with BizVibe's supplier and sales intelligence tools! content Concentrates are unfinished products used in the production of blast furnace pellets and pellets used for metallization. Corporate solution including all features. That's because it consumes more tons of iron ore than any country. Vale has a strong presence in the country and is currently the worlds leading iron ore miner, with annual output reaching 300 million tonnes in 2020. An adjustment in the U.S. Geological Survey's methodology to estimate usable ore production instead of crude ore production resulted in adjusted totals from China beginning in 2015 and in lower overall world mine production. New, Insights into the worlds most important health markets, Figures and insights about the advertising and media world, Everything you need to know about the industry development. Facebook: number of monthly active users worldwide 2008-2022, Smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q1 2022, Research Lead covering energy, environment, chemicals & resources, Profit from additional features with an Employee Account.
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